(Source: Yonhap News) South Korea’s second-largest mobile carrier KT Corporation showcased a new commercial network using blockchain technology for the first time in the world. The company said it will apply its blockchain technology into new emerging businesses, such as energy management and identity authentication.

The KT Network Blockchain currently handles 2,500 transactions per second (TPS) with an aim of 10,000 TPS by the end of the year and 100,000 TPS by the end of 2019, KT said.